Retirement Teachers' and State Employees' Retirement System: * A mandatory 6% pre-tax deduction is taken from your paycheck each month. The State of NC matched the deduction. * Under current law, if you were hired as a State of North Carolina employee prior to August 1, 2011, you will continue to be vested in the Retirement System after five years of service/contribution. If you were hired on or after August 1, 2011, you will be vested after ten years of service/contribution. * There are short-term and long-term disability benefits available to employees who meet the required criteria under the retirement system. * If you die while in active service, after one year as a contributing member, there is a death benefit included in the retirement system. The death benefit is payable to your beneficiary equaling the employee's annual salary (minimum of $25,000 and a maximum of $50,000) and a refund of the 6% of your contributions that have been taken from your paychecks. Supplemental Retirement Income Plans (Optional) |
. |
|
